Market snapshot 2025 in Thessaloniki
The market remains dynamic in 2025, supported by local demand, students and an international clientele attracted by the quality of life. The metro openings strengthen well-served neighborhoods. 🌆
The ranges below are indicative, based on recent transactions and listings observed in early 2025. They vary depending on condition, floor, view and energy efficiency.
As an indication, averages of requested properties point to a median price around 193 000 € and an average price per m² close to 1 582 €/m², a value consistent with the ranges of the well-connected peripheral neighborhoods cited above.
- Historic center / Ano Poli: old buildings and charming renovations. • Unrenovated: ~1 700–2 400 €/m² • Renovated: ~2 400–3 200 €/m² • Sea/monument view: can exceed 3 500 €/m².
- Seafront (Nea Paralia) and premium city center: rare properties, open views. • Recent or fully renovated apartments: ~3 000–4 800 €/m².
- Well-connected peripheral neighborhoods: good budget alternative. • ~1 500–2 300 €/m² depending on the building and distance to stations.
Central renovations & yields
The historic core offers a value opportunity through renovation: insulation, windows, electricals, elevator, common areas. 🛠️
- Capex to plan: 300–800 €/m² for a standard upgrade, more for a high-end renovation.
- Rental: long-term student/professional targets ~3.5–4.5% gross; medium-term (3–6 months) can reach ~4.5–6.0% with active management.
- Strengths: deep demand, low vacancy; areas of concern: old condominium associations, seismic and energy assessments.
Kalamaria: attractive waterfront
Kalamaria combines a coastal promenade, shops, schools and easy access by metro. Ideal for year-round living and a long-term patrimonial investment. 🚇
Note, however, that some aggregated values from the database appear corrupted (surface/price per m² fields inconsistent): always verify surfaces and calculate the price per m² yourself on each listing.
- New/recent (A/A+) with a view: ~3 200–4 500 €/m²; second line: ~2 700–3 600 €/m².
- Well-maintained older property: ~2 200–3 000 €/m² depending on floor, parking and exposure.
- Yields long-term family rentals: ~3.0–4.2% gross; capital appreciation supported by waterfront scarcity.
Kassandra vs Sithonia: 2025 ranges
In Halkidiki, the first peninsula Kassandra is livelier; Sithonia is wilder and more discreet. Prices reflect these positions. 🏖️
The averages on local pages confirm this logic: for Kassandra the observed average value reaches about 2 806 €/m², while for Sithonia the average is higher, around 3 826 €/m² — a sign that the most sought-after areas of Sithonia push prices upward.
- Kassandra
- Front line/immediate beach access: ~2 800–4 500 €/m² (holiday houses/apartments).
- Second line/5–10 min walk: ~2 100–3 200 €/m².
- Inland (villages): ~1 400–2 200 €/m² (village houses, small residences).
- Sithonia
- Front line/postcard views: ~2 400–4 000 €/m².
- Second line: ~1 800–2 800 €/m².
- Green inland: ~1 300–2 100 €/m².
Seaside vs inland: price gaps
- Coastal premium: +20 to +50% between front line and inland, sometimes more for a sought-after cove.
- Example: a 90 m² house at 3 300 €/m² on the front line often corresponds to 2 200 €/m² in a village 10–15 min from the beach.
- Key factors: direct access to the sea, view, sandy/pebble beach, services within walking distance, rental permits.
Seasonal holiday homes vs year-round residence
- Seasonal: holiday orientation, air conditioning, outdoor spaces; pay attention to high-season management and durable furnishings.
- Year-round: efficient heating, insulation, storage, proximity to schools/shops; more predictable energy costs.
- Rental: occupancy varies from 10 to 16 weeks/year on the coast; inland captures more stable but lower rents.
Risks & opportunities
Anticipate local constraints to secure your project and enhance your property’s long-term value. ✅
Condominiums, parking, noise
- Condominiums: check reserve funds, approved works, elevator compliance and actual charges.
- Parking: a private parking space in Thessaloniki/Kalamaria adds value and limits vacancy.
- Noise: bars, major roads and tourist seasons; favor double glazing and orientation.
Scarcity of land on the front line
- Limited supply: few buildable plots; pressure shifts to renovation and second lines.
- Regulations: coastal easements, protected zones (Natura 2000), permits and shoreline setbacks to respect.
- Resilience: elevation, erosion, runoff; request a geotechnical study and a risk assessment.
- Potential: scarcity + build quality = better price retention and resale liquidity. 📈
Green Acres advice: have prices validated by « sold » comparables, a technical audit and a realistic rent projection according to the targeted segment.
